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Question
What are the errors not disclosed by a trial balance?
Solution
Certain errors will not affect the agreement of trial balance. Though such errors occur in the books of accounts, the total debit and credit balance will be the same. The trial balance will tally. Errors of complete omission, error of principle, compensating error, a wrong entry in the subsidiary books are not disclosed by the trial balance.
Examples of such errors are as follows:
- Treating revenue expenditure as capital expenditure
- Omitting a transaction completely
- Entering a transaction in a wrong subsidiary book
- Entering a transaction twice in a subsidiary book or journal
- Entering the amount of a transaction wrongly in the journal
- Entering the amount of transaction wrongly in the subsidiary book.
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